Sui (SUI) has witnessed a remarkable price rally in the past seven days in a move that saw the coin reaching a new all-time high (ATH). SUI has recorded a 27% upsurge in the last seven days from a low of $3.9824 amid the latest price drawdown.
Key drivers behind SUI's bullish momentum
According to CoinMarketCap data, SUI currently changes hands at $5.22, representing an 18.72% increase in the last 24 hours. Investors’ confidence has also grown as trading volume soared by a staggering 191.40% to $2.44 billion.
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Sui has undergone an incredible journey within the past two years to reach its current price level.
Notably, the coin suffered bearish sentiments, plunging it below $0.50 in its early days. In October of 2023, SUI hit an all-time low (ATL) of $0.3643. Despite the low point, the SUI ecosystem has maintained resilience in product releases.
Less than 14 months later, the ATL and SUI posted a growth rate of 1,328.26%.
The recent bullish SUI run resulted from the ecosystem's controlled token unlocking. Notably, on the first day of 2025, approximately 82 million SUI tokens representing 0.82% of its total token supply were released. This measured release has helped to prevent flooding the market and overwhelming investors with supply.
Analysts believe SUI’s strong demand, as seen with the soaring trading volume, has helped offset any negative impact on the coin.
Sui's collaborations and integrations
Interestingly, the Layer-1 blockchain has been trying to improve utility, which evenscored recognition from Cardano’s Charles Hoskinson.
In a recent notable move, Sui collaborated with Ant Digital Technologies to accelerate the global adoption of real-world assets into Web3. The partnership makes tokenized assets available on Sui for the first time.
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Similarly, Phantom Wallet, a leading non-custodial multichain crypto wallet, has integrated with the Sui network. The move by Phantom, which has about 7 million active users, is significant as Sui users can now expand their wallet solution with access to the Solana ecosystem.
These collaborations and integrations contributed to thebullish sentiments that SUI is experiencing.
